Agenda and decisions

The Minutes of meeting of held on 1 February 2023 were agreed as an accurate record.

None.

It was MOVED, SECONDED, and RESOLVED that Mayor and Cabinet noted the officer’s response to the Housing Select Committee's referral, as set in the report, and oral presentation by the Chair of Housing Select Committee, and took those into consideration when making their decision.  Mayor and Cabinet's decision, the officer comments in the report, and oral presentation by the Chair of Housing Select Committee will be reported back to the Committee.

It was MOVED, SECONDED and RESOLVED that having considered the views of those consulted on the budget, and subject to consideration of the outcome of consultation with business ratepayers and subject to proper process, as required, the Mayor and Cabinet:

General Fund Revenue Budget

1. noted and asked Council to note the projected overall variance after the use of corporate provisions and reserves of £9.6m (or 3.9%) against the agreed 2022/23 revenue budget of £248.610m as set out in section 6 of the report and that any year-end overspend would be met from corporate provisions and reserves;

2. endorsed and asked Council to endorse the budget cut reduction measures of £12.587m as per the Mayor and Cabinet meeting of the 7 December 2022, as set out in section 6 of the report and summarised in Appendix Y1 and Y2;

3. agreed and asked Council to agree the allocation of £43.848m of resources from the corporate risks and pressures, social care precept, new homes bonus, social care grant, ASC market sustainability and improvement fund and services grant in 2023/24 to be invested in funding quantified budget pressures and opportunities, both recurring and once-off as set out in section 6;

4. agreed to recommend to Council that a General Fund Budget Requirement of £263.679m for 2023/24 be approved;

5. asked Council to agree to a 4.99% increase in Lewisham’s Council Tax element. This would result in a Band D equivalent Council Tax level of £1,492.13 for Lewisham’s services and £1,926.27 overall. This represents an overall increase in Council Tax for 2022/23 of 6.02% and is subject to the GLA precept for 2023/24 being increased by £38.55 (i.e. 9.74%) from £395.59 to £434.14, in line with the GLA’s draft budget proposals;

6. noted the final settlement figure for 2023/24 had not yet been announced and delegated authority to the Executive Director for Corporate Resources to include any change to the provisional settlement of £131,105,977 in the report for Council with any difference covered from provisions and reserves as necessary;

7. noted the provisional and estimated precept and levies from the GLA and other bodies as detailed in Appendix Y6 and delegated authority to the Executive Director for Corporate Resources to include any changes to these in the report for Council with any difference covered from provisions and reserves as necessary;

8. noted and asked Council to note the Council Tax Ready Reckoner which for illustrative purposes sets out the Band D equivalent Council Tax at various levels of increase. This was explained in section 6 of the report and was set out in more detail in Appendix Y4;

9. asked that the Executive Director for Corporate Resources issues cash limits to all Directorates once the 2023/24 Revenue Budget was agreed;

10. considered, and asked Council to consider, the Section 25 Statement from the Chief Finance Officer. This was attached at Appendix Y5;

11. agreed and asked Council to agree the draft statutory calculations for 2023/24 as set out at Appendix Y6;

12.  ...  view the full decision text for item 4.